ASX-listed Besra Gold eyes best day ever after premium placement

Besra Gold

10/10/2022 02:25

** Shares of gold miner Besra Gold  BEZ.AX  rise as much as
109.7% to A$0.065, their biggest gain ever
    ** BEZ says it signed a subscription agreement with Quantum
Metal Recovery for the issue of 11.1 mln new CDIs (CHESS
depositary interest) to raise A$1 million ($636,900.00)
    ** The placement is at an issue price of A$0.09 per CDI, a
181.2% premium to the closing price of A$0.032 per CDI on Oct. 7
    ** Proceeds from the placement will be used to fund
activities at Bau Gold project and as general working capital -
co
    ** In advanced discussions with Quantum regarding broader
funding support of Besra's activities, says co 
    ** Shares hit their highest levels since June 14
    ** More than 5.4 mln shares change hands, compared with the
30-day average volume of about 166,000 shares
    ** Stock down ~70.5% this year, as of last close
($1 = 1.5701 Australian dollars)
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))